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1988 (5) TMI 37 - SUPREME COURTWhether an assessment list which was finalised and authenticated on July 24, 1952, after the expiry of the official year 1951-52 on March 31, 1952, could be regarded as a good or valid assessment list for the official year 1951-52? Held that:- The entire scheme of the provisions pertaining to the preparation of the assessment list and the levy of property tax under the Bombay Municipal Boroughs Act, which is materially similar to the scheme under the said Act, was considered and the aforesaid conclusions were arrived at. The official year is the unit of taxation as far as municipal property taxes are concerned and, if the contention of Mr. Parekh is accepted, the result would be that an assessment list could be altered at any time if the conditions set out in section 123 of the said Act are satisfied, with the result that there would be complete uncertainty in the field of taxation of property and unwary purchasers of immovable property might be put to the difficulty of having to discharge the liabilities for property taxes for years long prior to the time when they purchased the immovable property in order to save the property from being sold in recovery proceedings. In the result, the appeal fails
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